Algert Global LLC Takes $649,000 Position in The Home Depot, Inc. (NYSE:HD)

Algert Global LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,601 shares of the home improvement retailer’s stock, valued at approximately $649,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Canopy Partners LLC boosted its position in shares of Home Depot by 1.5% during the third quarter. Canopy Partners LLC now owns 2,307 shares of the home improvement retailer’s stock valued at $935,000 after purchasing an additional 33 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Home Depot by 14.3% during the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock valued at $273,055,000 after buying an additional 84,062 shares in the last quarter. Optivise Advisory Services LLC purchased a new stake in shares of Home Depot in the 3rd quarter worth about $504,000. Waddell & Associates LLC increased its stake in shares of Home Depot by 1.3% in the 3rd quarter. Waddell & Associates LLC now owns 5,103 shares of the home improvement retailer’s stock worth $2,068,000 after acquiring an additional 66 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its position in Home Depot by 4.6% during the 3rd quarter. Nicolet Advisory Services LLC now owns 18,242 shares of the home improvement retailer’s stock valued at $7,508,000 after acquiring an additional 799 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada lifted their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

Shares of Home Depot stock opened at $429.51 on Friday. The stock has a market cap of $426.66 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.97 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock’s fifty day moving average is $407.48 and its 200 day moving average is $371.81. The Home Depot, Inc. has a one year low of $308.59 and a one year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.81 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. Home Depot’s payout ratio is 61.14%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.